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Mar 21, 2013
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and to created big deficits. and then the onslaught of the great recession in 2008 pushed our deficits even higher. and today, today only one-eighth of the revenues lost by the bush tax cuts have been restored. one-eighth. one-eighth. yet many of the republicans keep repeating their mantra that we only have a spending problem, only a spending problem, not a revenue problem. this is demonstrably not the case. now, we go back in time when i was here when president reagan pushed through some tax cuts when he came in as president, but i would say to his credit, he realized they went too far so he reversed course and supported two income tax increases. well, in looking back just 12 years ago, president george w. bush's tax cuts also went too far. again, contributing to the largest deficit in our history. well, you'd think that we would want to reverse course, but republicans have dogmatically refused to reverse course on these -- on increasing revenues. they stick to their ideological man travment they say, don't touc
and to created big deficits. and then the onslaught of the great recession in 2008 pushed our deficits even higher. and today, today only one-eighth of the revenues lost by the bush tax cuts have been restored. one-eighth. one-eighth. yet many of the republicans keep repeating their mantra that we only have a spending problem, only a spending problem, not a revenue problem. this is demonstrably not the case. now, we go back in time when i was here when president reagan pushed through some tax...
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Mar 20, 2013
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new deficit reduction, for a total of $4.25 trillion in deficit reduction since the simpson-bowles report. it reduces the deficit to below 3% of g.d.p. by 2015 and keeps it well below that level for the rest of the ten-year window in a responsible way, and it pushes our debt as a percentage of the economy down and moving in the right direction. mr. president, our budget tackles this issue the way the american people have consistently said they want it done, with an equal mick of responsible spending cuts made across the federal budget and new revenue raised by closing loopholes and cutting wasteful breaks that primarily benefit the rich. this budget cuts spending responsibly by $975 billion, and we make some tough choices to get there. we think every program, including the ones that we know are important, need to be wringing out waste, trimming fat and reducing cost to taxpayers. so $500 billion of our deficit reduction comes from responsible savings on the domestic spending side, including $275 billion in health care savings made in a way that doesn't harm our seniors or our families. we
new deficit reduction, for a total of $4.25 trillion in deficit reduction since the simpson-bowles report. it reduces the deficit to below 3% of g.d.p. by 2015 and keeps it well below that level for the rest of the ten-year window in a responsible way, and it pushes our debt as a percentage of the economy down and moving in the right direction. mr. president, our budget tackles this issue the way the american people have consistently said they want it done, with an equal mick of responsible...
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Mar 20, 2013
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our focus is on jobs and the jobs deficit as a way to tackle the budget deficit. with that, i'm pleased to yield three minutes to my colleague and friend from maryland, the distinguished whip, mr. hoyer. the chair: the gentleman is recognized for three minutes. without objection, so ordered. mr. hoyer: i first want to thank the ranking member for the work that he's done on this budget. that he offers us an alternative. it is a reasonable alternative that can be implemented. to that extent it's a stark difference to the majority's proposal which will not be implemented and they know it. let me start with an observation. headline blunt report says g.o.p. needs to regroup for 2016. in that there is this sentence from the report, not from a democrat, not from the newspaper, not from an editorial writer, quote, we have become expert, we being the republican party report, we have become expert in how to provide ideological reinforcement to like-minded people. with all due respect to my friend, mr. ryan, that's what his budget is. it is a vision. it is a vision that will
our focus is on jobs and the jobs deficit as a way to tackle the budget deficit. with that, i'm pleased to yield three minutes to my colleague and friend from maryland, the distinguished whip, mr. hoyer. the chair: the gentleman is recognized for three minutes. without objection, so ordered. mr. hoyer: i first want to thank the ranking member for the work that he's done on this budget. that he offers us an alternative. it is a reasonable alternative that can be implemented. to that extent it's...
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Mar 26, 2013
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the deficit has always been a canard. when you're in office, you don't take that much notice of the deficit. it's not number one priority. when you're out of office, it's a way to hit the people who are in office. >> i think that's a good point, lee, it isn't lost on me and i don't think it's lost on many people that when people like paul ryan talk about cutting the deficit. they always want to do so by going after programs they're ideologically opposed to. programs for feeding seniors, feeding children, cutting the department of education. they don't want to cut the deficit, they want to do it to get rid of programs they don't like. >> it's killing two birds with one stone. jared makes a great point. the way things are supposed to work is when we come out of these recessions we're supposed to grow and everything is supposed to get better. that's not happening yet. not happening yet and we have at the same time the incredible income inch quality issue. whatever you think about the tax cuts, when you have a middle class th
the deficit has always been a canard. when you're in office, you don't take that much notice of the deficit. it's not number one priority. when you're out of office, it's a way to hit the people who are in office. >> i think that's a good point, lee, it isn't lost on me and i don't think it's lost on many people that when people like paul ryan talk about cutting the deficit. they always want to do so by going after programs they're ideologically opposed to. programs for feeding seniors,...
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Mar 19, 2013
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the simpson-bowles commission set a 10-year deficit reduction goal as the amount of deficit reduction we needed to get our budget under control. the c.b.c. does not endorse the specific recommendations of that goal, but our budget does accept the overall spending limitations the deficit reduction goals. based on most analysis, we have already passed and the president has signed into law approximately $2.4 trillion in deficit reduction through 2022, not including the sequester and to reach the goal, we need an additional $1.6 trillion in deficit reduction. so working off the c.b.o.'s baseline, we first instruct the ways and means committee to enhance receive news by $2.7 trillion over the next 10 years. that is not an extraordinary figure. just a few weeks ago, we passed a $3.9 trillion extension in tax cuts. so going back over that and coming up with $2.7 trillion is within the realm of possibility. we just don't make the number up. we show $4.2 trillion in possible options in coming up with the $2.7 trillion. that would include limiting the deductibility of corporate interest payment
the simpson-bowles commission set a 10-year deficit reduction goal as the amount of deficit reduction we needed to get our budget under control. the c.b.c. does not endorse the specific recommendations of that goal, but our budget does accept the overall spending limitations the deficit reduction goals. based on most analysis, we have already passed and the president has signed into law approximately $2.4 trillion in deficit reduction through 2022, not including the sequester and to reach the...
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Mar 19, 2013
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the immoral idea that we are going to put more on our plate now, add up deficit after deficit and create a bigger and bigger debt and then make people who don't even exist yet pay for it. why is that political? because, you know what, mr. chair? the people in the here and now can vote. generations in the future, our grandkids who don't exist can't vote. and that's what makes the other approaches we have heard about immoral, wrong political. we balance. we balance within 10 years. let's contrast that a bit. our responsible approach to what the senate democrats have done, for example. next year alone the senate democrat budget increases spending by $162 billion above what we are spending today. over 10 years, increases the delebt by $7.3 trillion from today's levels despite a massive tax hike that they have. and it adds $1.5 trillion in new taxes. even after that, they still add to the debt, our kids' debt by $7.3 trillion. and again, mr. chair, it never balances. after four years and $6 trillion in debt since a budget was last even passed, the senate democrats' proposal leaves more debt a
the immoral idea that we are going to put more on our plate now, add up deficit after deficit and create a bigger and bigger debt and then make people who don't even exist yet pay for it. why is that political? because, you know what, mr. chair? the people in the here and now can vote. generations in the future, our grandkids who don't exist can't vote. and that's what makes the other approaches we have heard about immoral, wrong political. we balance. we balance within 10 years. let's contrast...
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Mar 21, 2013
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managing our deficit in a credible way that will get our deficit under control, it builds on the deficit reductions we've already done, we have already done since we started this debate and simpson-bowles recommendations came out. we have already done $2.4 trillion in deficit reduction, $1.8 trillion in spending reductions, $600 billion in revenues. this is very similar to how the simpson-bowles proposal was made. you have a plausible baseline. i'm not going to get too technical about all this. you're not using smoke and mirrors. you're using a realistic baseline in order to do the deficit reduction. it's achievable. it's doable. it's credible. and you deal with tax expenditures. one more point about tax expenditures, senator coons, because you're exactly right. we have provisions in the spending programs of this country that invest in energy security, and that's subject to sequestration because it's an appropriation bill, but we have provisions in the tax code that gives special breaks to the oil and gas industry. these are expenditures. these are revenues that we're hemorrhaging. they
managing our deficit in a credible way that will get our deficit under control, it builds on the deficit reductions we've already done, we have already done since we started this debate and simpson-bowles recommendations came out. we have already done $2.4 trillion in deficit reduction, $1.8 trillion in spending reductions, $600 billion in revenues. this is very similar to how the simpson-bowles proposal was made. you have a plausible baseline. i'm not going to get too technical about all this....
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Mar 21, 2013
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when you're dealing with deficit reduction -- i just described how we got into a deficit situation. but when you're dealing with a deficit situation and you say we need to make sacrifices, it is absolutely appropriate and ask who is best able to make those sacrifices? and right now, as i think most americans know, the wealthiest people in this country are doing phenomenally well. large corporations are enjoying record-breaking profits. that's one group of people. meanwhile, the middle class of this country is disappearing, and we have 46 million people living in poverty. so common morality, basic morality says who do you ask most significant throeu help with deficit reduction? do you tell annoyed worker who is trug -- do you tell an unkphroeud -- do you tell an unemployed worker we're going to balance the budget on your back or do you say to a huge profitable corporation that in some cases is paying nothing in taxes, we're going to ask you to help us with deficit reduction? mr. president, it is important for us to do what we do too rarely on the floor of the senate: take a hard look
when you're dealing with deficit reduction -- i just described how we got into a deficit situation. but when you're dealing with a deficit situation and you say we need to make sacrifices, it is absolutely appropriate and ask who is best able to make those sacrifices? and right now, as i think most americans know, the wealthiest people in this country are doing phenomenally well. large corporations are enjoying record-breaking profits. that's one group of people. meanwhile, the middle class of...
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Mar 25, 2013
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deficits have nothing to do, because the federal government reduced its deficit. that doesn't mean wal matt is going to go out and hire a bunch of people. they're not connected and we're having this conversation over and over. >> that's the problem with our side. >> i want to get josh in here. >> the usual circumstance in which government borrowing is crowding out private investment and holding back growth is that interest rates rise because governments trying to borrow money at the same time that companies are trying to raise capital, it makes capital more expensive and it makes difficult for people to invest. we're not seeing it right now. interest rates are extremely low, not just in the short-term, but also in the long run. we have extremely low, 30-year interest rates what that reflects is there's not a lot of demand for capital in the private sector. the government could be boosting the economy by borrowing and spending the money itself. and in the future, if, if we see interest rates starting to rides, that will be in part an indication of expectations of i
deficits have nothing to do, because the federal government reduced its deficit. that doesn't mean wal matt is going to go out and hire a bunch of people. they're not connected and we're having this conversation over and over. >> that's the problem with our side. >> i want to get josh in here. >> the usual circumstance in which government borrowing is crowding out private investment and holding back growth is that interest rates rise because governments trying to borrow money...
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Mar 20, 2013
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on the jobs deficit to help deal with the budget deficit. now, we also reduce the deficit in a steady, sustained way. we do it with balance. we do it with targeted cuts, but we also do it, mr. chairman, by eliminating some of the tax breaks and tax expenditures for very high-income individuals. we heard from governor romney and we heard from the chairman of the budget committee last fall and this year that there are trillions of dollars of tax expenditures that disproportionately benefit very wealthy people. so the republican plan, they said we'll get rid of your tax expenditures for high-income people, but we'll bring down your top rate. so in the end the folks at the top get a very big windfall. we say let's eliminate some of those tax breaks for very wealthy people in order to help reduce our deficit, so when you combine that savings with targeted cuts, you can reduce it in a balanced way rather than increasing the tax burden on the middle class which is what their budget will do. we also want to make sure we keep our commitments to our s
on the jobs deficit to help deal with the budget deficit. now, we also reduce the deficit in a steady, sustained way. we do it with balance. we do it with targeted cuts, but we also do it, mr. chairman, by eliminating some of the tax breaks and tax expenditures for very high-income individuals. we heard from governor romney and we heard from the chairman of the budget committee last fall and this year that there are trillions of dollars of tax expenditures that disproportionately benefit very...
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Mar 22, 2013
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-- there was no deficit. we had a surplus. this idea that we hear from the other side that every time you raise taxes, you hurt the economy just defies history. all we are to do is looking at recent history. and especially now at a time when there's such disparity in income, growing disparity in income in our country, and what we're trying to do here is promote growth. and you promote growth by investing in the things that create growth. and we know what they are. we know what they are. they're education. we're going to cut pell grants? my wife when she was 18 months old, her father died. in a car accident. a world war ii vet, decorated world war ii vet. leaving her mom widowed at age 29 with five kids. four girls and a boy. the boy, my brother-in-law neil, went into the coast guard , and he did 20 years in the coast guard, he still works for the coast guard. electrical engineer in the coast guard. he's my -- the second most important man in my son's life. my son was able to get a master's degree in engineeri
-- there was no deficit. we had a surplus. this idea that we hear from the other side that every time you raise taxes, you hurt the economy just defies history. all we are to do is looking at recent history. and especially now at a time when there's such disparity in income, growing disparity in income in our country, and what we're trying to do here is promote growth. and you promote growth by investing in the things that create growth. and we know what they are. we know what they are. they're...
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Mar 18, 2013
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where is the argument on the deficit? he has got nothing to say about the deficit. where are his plans for getting the economy moving? he has got nothing to say. that is what is happening under his leadership, absolutely nothing apart from debt, debt, and more debt. >> ed miliband. >> mr. speaker, and hene. a government that is absolutely hopeless, and today's exchanges have shown it. a week out from the budget, they have an economic policy that is failing, a prime minister who makes it up as he goes along, the country that is paying the price. >> six questions, and not a single positive suggestion for how to get on top of the deficit that the right honorable gentleman left, not a single suggestion for how to deal with the massive welfare bills that we were left, and not suggestion for how to improve standards in our schools. but i do know what he has been doing over these last months, i do know what he has been doing, because i have been passed -- >> order. this answer must be heard. >> and it is a particularly interesting one, because i have here a copy of the rig
where is the argument on the deficit? he has got nothing to say about the deficit. where are his plans for getting the economy moving? he has got nothing to say. that is what is happening under his leadership, absolutely nothing apart from debt, debt, and more debt. >> ed miliband. >> mr. speaker, and hene. a government that is absolutely hopeless, and today's exchanges have shown it. a week out from the budget, they have an economic policy that is failing, a prime minister who...
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Mar 19, 2013
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on the jobs deficit to help deal with the budget deficit. now, we also reduce the deficit in a steady, sustained way. we do it with balance. we do it with targeted cuts, but we also do it, mr. chairman, by eliminating some of the tax breaks and tax expenditures for very high-income individuals. we heard from governor romney and we heard from the chairman of the budget committee last fall and this year that there are trillions of dollars of tax expenditures that disproportionately benefit very wealthy people. so the republican plan, they said we'll get rid of your tax expenditures for high-income people, but we'll bring down your top rate. so in the end the folks at the top get a very big windfall. we say let's eliminate some of those tax breaks for very wealthy people in order to help reduce our deficit, so when you combine that savings with targeted cuts, you can reduce it in a balanced way rather than increasing the tax burden on the middle class which is what their budget will do. we also want to make sure we keep our commitments to our s
on the jobs deficit to help deal with the budget deficit. now, we also reduce the deficit in a steady, sustained way. we do it with balance. we do it with targeted cuts, but we also do it, mr. chairman, by eliminating some of the tax breaks and tax expenditures for very high-income individuals. we heard from governor romney and we heard from the chairman of the budget committee last fall and this year that there are trillions of dollars of tax expenditures that disproportionately benefit very...
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Mar 19, 2013
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can't we do just 7% for deficit reduction? i thought the deficit was so important. but maybe not when it comes to our friends protecting the interests of the big corporations and the rich. i thank the presiding officer, and i yield the floor. a senator: i suggest the absence of a quorum. the presiding officer: oh, now the clerk will call the roll. quorum call: quorum call: the presiding officer: mr. leader. mr. reid: i would ask unanimous consent that the quorum call be terminated. the presiding officer: without objection. mr. reid: i now ask unanimous consent that at 11:15 a.m. tomorrow, wednesday, march 20, all postcloture tile be expired, the durbin secondary amendment to toomey amendment be withdrawn with no other second-degree amendments the senate will come to order, the senate proceed to vote if relation to the toomey amendment 115, that upon disposition of the toomey amendment, the senate then proceed to vote on the mikulski-shelby substitute amendment, as amended; that upon disposition of the substitute amendment, the senate proceed to the cloture vote on t
can't we do just 7% for deficit reduction? i thought the deficit was so important. but maybe not when it comes to our friends protecting the interests of the big corporations and the rich. i thank the presiding officer, and i yield the floor. a senator: i suggest the absence of a quorum. the presiding officer: oh, now the clerk will call the roll. quorum call: quorum call: the presiding officer: mr. leader. mr. reid: i would ask unanimous consent that the quorum call be terminated. the...
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Mar 22, 2013
03/13
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they now claim their budget would eliminate the deficit in 2023. and house budget committee chairman paul ryan has even said that it doesn't really matter how their budget eliminates the deficit. mr. president, americans across our country who will feel the impact of the choices we make in the coming weeks and months feel that it does matter. so while some of my republican colleagues would probably prefer not to hear about it, i think that the impact of the house republican budget is a crucial part of this debate, and we owe it to the american people to put our opinions on the record. now we've come a long way, mr. president, but there are still far too many americans today who are unemployed or underemployed, which is why our senate budget's first priority is boosting our economic recovery. speaker boehner has actually agreed with president obama that our debt does not present -- quote -- "an immediate crisis." so you might think the house budget would phase in cuts responsibly so we can protect our fragile recovery. well, instead the house republ
they now claim their budget would eliminate the deficit in 2023. and house budget committee chairman paul ryan has even said that it doesn't really matter how their budget eliminates the deficit. mr. president, americans across our country who will feel the impact of the choices we make in the coming weeks and months feel that it does matter. so while some of my republican colleagues would probably prefer not to hear about it, i think that the impact of the house republican budget is a crucial...
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maximum budget deficit european countries can have a three percent flies in the face of automatic stabilizing mechanisms that all of these countries have where if they go into recession then automatically they have things like on employment insurance and all the people who were paying taxes into the government are now taking tax money out of the government and so of course you're going to have budget deficits go up was this just like a crazy idea in the first place yes i think so i think that the whole notion of an automatic fix level denies the inevitable flexibility the inevitability of new developments that no one who wrote these rules ever for saw and that it. puts
maximum budget deficit european countries can have a three percent flies in the face of automatic stabilizing mechanisms that all of these countries have where if they go into recession then automatically they have things like on employment insurance and all the people who were paying taxes into the government are now taking tax money out of the government and so of course you're going to have budget deficits go up was this just like a crazy idea in the first place yes i think so i think that...
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Mar 24, 2013
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paul krugman has the idea that deficits don't matter, not now. we spent some time understanding the thinking behind the theory. krugman is of course the nobel prize winning op-ed columnist for the "new york times." he is also princeton professor. thank you for doing this. so explain, first, specifically why you feel that right now really there is, as far as i can tell, almost no limit to what you would be willing to do in terms of stimulating the economy. >> right now is a time when not spending is extremely disruptive. if the government pulls back, it's destroying jobs and there's no way to offset that. ordinarily if a government spends less the federal reserve can cut interest rates, like we did at the end of the cold war, but we can't do that now because the interest rate fed controls are at zero. so we have no offset and conversely up to, if we increase spending right now it will create jobs and expand the economy. this is a really good time to be spending. won't always be like this. this is not the normal situation. normally we have an econo
paul krugman has the idea that deficits don't matter, not now. we spent some time understanding the thinking behind the theory. krugman is of course the nobel prize winning op-ed columnist for the "new york times." he is also princeton professor. thank you for doing this. so explain, first, specifically why you feel that right now really there is, as far as i can tell, almost no limit to what you would be willing to do in terms of stimulating the economy. >> right now is a time...
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Mar 26, 2013
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million people and we have only created five and-a-half million total job and that leaves us with a deficit of three or so million jobs and we are cranking out more in terms of goods and services but we are doing it
million people and we have only created five and-a-half million total job and that leaves us with a deficit of three or so million jobs and we are cranking out more in terms of goods and services but we are doing it
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Mar 25, 2013
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of the highest deficits in the western world. that would pose a huge risk to the stability of the british economy, threaten a sharp rise in interest rates, and leave the burden of debt to our children and our grandchildren. withl not take that gamble the future of this country, especially when those representations came from the very same people whose previous candle w have the economy led te mess we are cleaning up in the first place. , theeputy speaker spending reductions we promised have been more than delivered. welfare reforms have been legislated for and are taking place. here is a clear sign of progress -- the proportion of national income spent by the state has fallen from 47 point four percent three years ago to 43.6% toay, and it is on course reach 40.5% at the end of the period. we set out our deficit plan and are delivering that plan. taking together, the measures i will announce today are fiscally neutral overall. ask the british people and they will tell you, our problem is a country is not the way -- not that we ar
of the highest deficits in the western world. that would pose a huge risk to the stability of the british economy, threaten a sharp rise in interest rates, and leave the burden of debt to our children and our grandchildren. withl not take that gamble the future of this country, especially when those representations came from the very same people whose previous candle w have the economy led te mess we are cleaning up in the first place. , theeputy speaker spending reductions we promised have...
SFGTV2: San Francisco Government Television
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Mar 19, 2013
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million people and we have only created five and-a-half million total job and that leaves us with a deficit of three or so million jobs and we are cranking out more in terms of goods and services but we are doing it with 3 million fewer people in the workforce and is to some extent that is why it may not feel like a new cycle or why if you try to tell somebody we are no longer in recovery but in a new cycle expansion they want throw a pie in your face because it doesn't feel like that to them. so where are we headed from here this is gdp the way that you are used to seeing it and the in the fourth quarter for when which we have data up here the government contracted at a one .0 analyzed rate. and didn't tdon't worry that we are slipping down into contraction that is the best looking contract actual growth that you will see it's slower government spentings and is a slower pace of inventory building and when you look at real drivers of economic growth we are doing a lot better than whereas quarter would indicate and if you look at the forecast here we are
million people and we have only created five and-a-half million total job and that leaves us with a deficit of three or so million jobs and we are cranking out more in terms of goods and services but we are doing it with 3 million fewer people in the workforce and is to some extent that is why it may not feel like a new cycle or why if you try to tell somebody we are no longer in recovery but in a new cycle expansion they want throw a pie in your face because it doesn't feel like that to them....
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Mar 20, 2013
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deficits in the western world. that would pose a huge risk to the stability of the british economy, threaten a sharp rise in interest rates, and leave the burden of debt to our children and grandchildren. and i will not take that gamble with the future of this country, especially when those representations came from the very same people who have the previous gamble with our economy lead for the mess we're clearing up in the first place. [shouting] >> be deputy speaker, the spending reduction we promise have been more than delivered. welfare reform have been legislative are taking place. here is a clear sign of progress, the proportion of national income spent by the state has fallen from 47.4% three years ago to 43.6 percent today. and on course to reach 40.5% at the end of the period. we have set out a deficit plan and delivering that plan. and the measures i will announce today are fiscally neutral overall. ask the british people and they will tell you our problem with the country is that we tax too little but th
deficits in the western world. that would pose a huge risk to the stability of the british economy, threaten a sharp rise in interest rates, and leave the burden of debt to our children and grandchildren. and i will not take that gamble with the future of this country, especially when those representations came from the very same people who have the previous gamble with our economy lead for the mess we're clearing up in the first place. [shouting] >> be deputy speaker, the spending...
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Mar 24, 2013
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and what happens to the deficit and to paul krugman's theories then? i'll ask him. ♪ ♪ the new blackberry z10 with blackberry hub and flick typing. built to keep you moving. see it in action at blackberry.com/z10 today is gonna be an important day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. ♪ if loving you is wrong ♪ i don't wanna be right [ record scratch ] what?! it's not bad for you. it just tastes that way. [
and what happens to the deficit and to paul krugman's theories then? i'll ask him. ♪ ♪ the new blackberry z10 with blackberry hub and flick typing. built to keep you moving. see it in action at blackberry.com/z10 today is gonna be an important day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the...
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six questions, not a single positive suggestion for how to get on top of the deficit. not a single suggestion for how to deal with the massive welfare. not a single suggestion for how to improve standards in our schools. but mr. speaker, i do know what he has been doing over these last months. because i have been -- >> order. this answer must be heard. >> i have here a copy of his diary and i know what he has been up to. these are the dinners that he has held to raise money from the trade unions in the last few weeks. as door, asgnb, left, they you emma 2.7 million pounds. dinosaur after dinosaur, dinner after dinner, they pay the money. they get the politics, but the country will end up paying the price. thank you, mr. speaker. it is national apprenticeship week. businesses are now offering apprentices. we are becoming an official apprenticeship hub. will the prime minister join me in praising all the businesses taking up apprenticeship? all the great young people that will see a positive future for our great nation? >> i will certainly join my honorable friend on wha
six questions, not a single positive suggestion for how to get on top of the deficit. not a single suggestion for how to deal with the massive welfare. not a single suggestion for how to improve standards in our schools. but mr. speaker, i do know what he has been doing over these last months. because i have been -- >> order. this answer must be heard. >> i have here a copy of his diary and i know what he has been up to. these are the dinners that he has held to raise money from the...
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Mar 18, 2013
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the president said deficits don't matter. all these deficits add up. we're at $16.6 trillion. more than 100% of our gdp. the problem is i disagree with what the democrats are doing. it's the old washington fiscal game of jenga. you try to build as much debt as you can take, as much taxes you can take until you topple the entire economy. this is the challenge that this week will have. this week republicans will have a budget that balances in ten years. the democrats' budget never balances. no household can run that way. >> let me challenge you on this point because here is paul ryan this week, and he laid out very clearly what he thought the job was. let me play that. >> we think we owe the country a balanced budget. we think we owe the country solutions to big problems that are plaguing our nation -- a debt crisis on the horizon, a slow-growing economy, people trapped in poverty. we're showing our answers. >> right, but the answers rely on $700 billion in savings from interest. most of the deficit reduction comes from repealing the president's health care reform, which nobody
the president said deficits don't matter. all these deficits add up. we're at $16.6 trillion. more than 100% of our gdp. the problem is i disagree with what the democrats are doing. it's the old washington fiscal game of jenga. you try to build as much debt as you can take, as much taxes you can take until you topple the entire economy. this is the challenge that this week will have. this week republicans will have a budget that balances in ten years. the democrats' budget never balances. no...
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make sure we have deficit reduction but don't cut too much too fast. take for scamel the sequestration. 700,000 american jobs will be lost. h is not the right time to do it. we have to phase this in and sequence it so we have economic growth and americans paying taxes. that really helps us recover. >> chris: senator corker, democrats and you just heard this sort of from dirk durbin but i heard it in more extreme forms from other democrats say it is more important to have economic growth than to deal with the national debt. your response? >> i think we should have economic growth and obviously we would like to see that happen and i think reducing the deficit helps cre create econoc growth. look, i think it is ridiculous to say that cutting $1.2 trillion over the next decade when we will spend $47 trillion of your money is a step too far. of course, we need to do that. and on top of that we need to build towards the entitlement reforms which obviously are creating the huge dent down the road. i think it was disappointing to all of us to have the presiden
make sure we have deficit reduction but don't cut too much too fast. take for scamel the sequestration. 700,000 american jobs will be lost. h is not the right time to do it. we have to phase this in and sequence it so we have economic growth and americans paying taxes. that really helps us recover. >> chris: senator corker, democrats and you just heard this sort of from dirk durbin but i heard it in more extreme forms from other democrats say it is more important to have economic growth...
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Mar 21, 2013
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we have a jobs deficit. we have a budget deficit. and these are the byproducts of a leadership deficit. we still have no budget from the president, in violation of the law. he gets his ncaa bracket in on time but still no budget. this is the fourth time in five years. he set a new record this year, two months with no plan, while we had trillion-dollar deficits and a debt crisis on the horizon. his party leaders, unfortunately, failing offering a serious account of our challenge. no serious plan to grow our economy or create jobs. no plan to ever balance the budget. take more. trillions of dollars more to spend more in washington. that's what got us in this mess in the first place. so what can be done? the good news is that we now have a vehicle for regular order. the democrats derailed the budget process each of the last few years and stopped governing when they stopped budgeting. at least we now have a budget process that's moving. we brought them back in the game this spring. that's a good thing. so what's going to happen in the we
we have a jobs deficit. we have a budget deficit. and these are the byproducts of a leadership deficit. we still have no budget from the president, in violation of the law. he gets his ncaa bracket in on time but still no budget. this is the fourth time in five years. he set a new record this year, two months with no plan, while we had trillion-dollar deficits and a debt crisis on the horizon. his party leaders, unfortunately, failing offering a serious account of our challenge. no serious plan...
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Mar 23, 2013
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guest: republicans were hitting deficit spending that the budget that the cr isn't addressing the deficit problem. you put two words on a credit card and didn't pay for them and that's why we have deficit. the war funding is an interesting element. it was a fight between democrats and republicans. democrats cut spending. how they arrived at savings in their bument and republicans said those numbers aren't realistic. host: trnt republicans say thrg have been increases in spending by the obama administration at pushed the debt from five or six years ago guest: how much debt there was when president obama came to office and how much debt there is now. that is the consistent argument it's getting worse. when you compare the ryan budget to the senate democrats budget there is a different pace of spending, both of them increase spending over time but the democrats by a lot more. host: go ahead bob. caller: we won't really know what's in this thing until the cover is pulled off. we can't trust the media to tell us the truth. and you should really when you have politico on, you should mention if
guest: republicans were hitting deficit spending that the budget that the cr isn't addressing the deficit problem. you put two words on a credit card and didn't pay for them and that's why we have deficit. the war funding is an interesting element. it was a fight between democrats and republicans. democrats cut spending. how they arrived at savings in their bument and republicans said those numbers aren't realistic. host: trnt republicans say thrg have been increases in spending by the obama...
SFGTV: San Francisco Government Television
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or we will maybe need to absorb the deficit of the department? >> that's an excellent question, so included in that first number on the page, the 141.9 million dollars is our best projection of what that supplemental will cost the city next year, so that number includes the operating shortfall that they're experiencing this dwraoer and how that affects next year, so it's reflected here on the -- in the shortfall projection. >> so, which is why there's still -- >> 57 million dollar shortfall to start with. >> thank you. >> i think what's important to think about the health department, the department will be before you in two weeks to talk about this in more depth along with issues related to the supplemental, is that the projection that underlies this assumes very significant costs associated with opening a new san francisco general hospital, and so i think to the degree that -- i think there are a number of solutions which probably look quite similar to our citywide solution but the department of public health needs to work towards including how
or we will maybe need to absorb the deficit of the department? >> that's an excellent question, so included in that first number on the page, the 141.9 million dollars is our best projection of what that supplemental will cost the city next year, so that number includes the operating shortfall that they're experiencing this dwraoer and how that affects next year, so it's reflected here on the -- in the shortfall projection. >> so, which is why there's still -- >> 57 million...
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are we getting our deficits and debts down? if you had to confirm yesterday, growth and the deficits have stalled. we are on a long, hard road to nowhere here in britain. >> so is everybody in the world, on a long, hard road particularly in developed countries. we saw pmi in eurozone suggesting six quarter hers of negative consecutive growth. and it's the trade rather than government spending or consumption, it's lack of trade overseas that's dragged the economy down. >> well, the forecast yesterday made clear that the fiscal tightening here in britain had reduced growth markedly. clearly, the situation is tough for us, as well.. why is it of the g-20 largest economies, only italy and japan have done worse than britain in the last two years? we weren't in the eurozone. the chancellor had the destiny of our country in his hands and he said this plan would work and it hasn't. the international monetary fund have been saying for the last year and a half the chancellor slowed the deficit pace of reduction, a temporary tax cut, brin
are we getting our deficits and debts down? if you had to confirm yesterday, growth and the deficits have stalled. we are on a long, hard road to nowhere here in britain. >> so is everybody in the world, on a long, hard road particularly in developed countries. we saw pmi in eurozone suggesting six quarter hers of negative consecutive growth. and it's the trade rather than government spending or consumption, it's lack of trade overseas that's dragged the economy down. >> well, the...
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they're not talking to me about the deficit. they want to know what we're doing as far as putting the american people to work. can you expound upon that for me please? ms. fudge: absolutely. i thank the gentlelady. what we have done in this budget, not only did we put in $13 billion for work force training, for job corps, for dislocated workers, retraining, segment training but in total we have almost $500 billion worth of job creation built into our budget. more than any budget, more than any budget, whether it be the democratic caucus, the white house budget or the republican budget. we have doubled down on jobs in the c.b.c. budget. ms. brown: thank you, madam chair. mr. horsford: continuing on, as the chairwoman of the c.b.c. just talked about, the congressional black caucus budget is an alternative budget for the fiscal year 2014. it puts forth a plan that reduces the deficit by $2.8 trillion over the next decade and creates millions of jobs through significant investments toward job creation that will accelerate our econom
they're not talking to me about the deficit. they want to know what we're doing as far as putting the american people to work. can you expound upon that for me please? ms. fudge: absolutely. i thank the gentlelady. what we have done in this budget, not only did we put in $13 billion for work force training, for job corps, for dislocated workers, retraining, segment training but in total we have almost $500 billion worth of job creation built into our budget. more than any budget, more than any...
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speaker, our real deficit is unemployment. let's eliminate this true deficit by bringing the president's american jobs act to the floor for a vote. it deserves a vote. mr. speaker, our mantra should be jobs, jobs, jobs. the speaker pro tempore: for what purpose does the gentleman from indiana seek recognition? >> i ask unanimous consent to address the house for one minute. the speaker pro tempore: without objection, the gentleman from indiana is recognized for one minute. >> mr. speaker, i rise today to honor an exceptional hoosier, dedicated public servant and a good friend of mine, martin. a man with a strong desire to help others and a man who has been a tremendous asset to the eighth district of indiana. martin has dedicated over 40 years of service to indiana, the eighth district, and to the republican party. he's currently serving his fourth term in elected office as county treasurer. he worked with many civic organizations and within the republican party, committee chairman and member of the eighth district central comm
speaker, our real deficit is unemployment. let's eliminate this true deficit by bringing the president's american jobs act to the floor for a vote. it deserves a vote. mr. speaker, our mantra should be jobs, jobs, jobs. the speaker pro tempore: for what purpose does the gentleman from indiana seek recognition? >> i ask unanimous consent to address the house for one minute. the speaker pro tempore: without objection, the gentleman from indiana is recognized for one minute. >> mr....
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this year, the democrat deficit would be 164 billion dollars bigger than the republican deficit. and next year, 308 billion dollars, just to give you a sense of it, by 2015 the republican deficit would be down to 125 billion and the democrat deficit 433 billion. there's a big indication of the difference between the parties when you look at the budgets of the budget blueprints of the republicans in the house and the democrats in senate and republicans want to restrain spending and democrats want to continue to blow up the budget and eventually, over the decade add 1 trillion dollars of new taxes. >> sean: yeah, so 1 trillion in new taxes over ten years, a trillion dollars, this is like they know no other way, all right? that's point one, but yet, they still will give us almost trillion dollar deficits as far as the eye can see throughout the entire ten-year period. here is the big issue though, i want to see obamacare repealed, but it's not going to happen through paul ryan's budget plan. the republicans, if they want that to happen, to get ryan's plan through, they're going to h
this year, the democrat deficit would be 164 billion dollars bigger than the republican deficit. and next year, 308 billion dollars, just to give you a sense of it, by 2015 the republican deficit would be down to 125 billion and the democrat deficit 433 billion. there's a big indication of the difference between the parties when you look at the budgets of the budget blueprints of the republicans in the house and the democrats in senate and republicans want to restrain spending and democrats...
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deficits are coming down. what is it republicans are going to give us in this grand bargain that we really want that would really be worth cutting the social safety net in the way they want to. i think they may have missed their window for those sorts of changes. >> and it may be their shorthand explanation why they're not doing more governing. thank you both for joining me tonight. >> thanks, lawrence. >>> coming up, sarah palin's jokes and david corn on hubris. we understand. our financial advice is geared specifically to current and former military members and their families. life brings obstacles. usaa brings retirement advice. the day building a play set begins with a surprise twinge of back pain... and a choice. take up to 4 advil in a day or 2 aleve for all day relief. [ male announcer ] that's handy. ♪ when the doctor told me that i could smoke for the first week... i'm like...yeah, ok... little did i know that one week later i wasn't smoking. [ male announcer ] along with support, chantix (varenicli
deficits are coming down. what is it republicans are going to give us in this grand bargain that we really want that would really be worth cutting the social safety net in the way they want to. i think they may have missed their window for those sorts of changes. >> and it may be their shorthand explanation why they're not doing more governing. thank you both for joining me tonight. >> thanks, lawrence. >>> coming up, sarah palin's jokes and david corn on hubris. we...
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we have reduced the deficit. the only intelligent way to measure deficit is as a percent of the economy. . percent of gdp that is for a simple reason. if you owe $10,000 on your credit card, is that urban some or not? it depends. if your salary is $30,000, 10 thousand dollars is a lot of money. if you are $3 million a year, $10,000 is not a lot of money. we have reduced the debt as a from 10.1%.f gdp it was 10% in 2009. it is now 5.3%. we have cut it in half. the fastest reduction in the deficit since the immobilization after world war ii, it is an inhibiting growth and the economy. i will vote against the sequester. i think we have done what we need to do with debt. we have the deficit down to a managing level. it will continue to come down. the caucus budget will bring it down further. right now, our crisis is jobs. we still have an eight -- we still have a 8% unemployment rate. if we got the people back to work, and our budget will create amillion jobs, if you have five percent unemployment rate by doing nothi
we have reduced the deficit. the only intelligent way to measure deficit is as a percent of the economy. . percent of gdp that is for a simple reason. if you owe $10,000 on your credit card, is that urban some or not? it depends. if your salary is $30,000, 10 thousand dollars is a lot of money. if you are $3 million a year, $10,000 is not a lot of money. we have reduced the debt as a from 10.1%.f gdp it was 10% in 2009. it is now 5.3%. we have cut it in half. the fastest reduction in the...
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so they -- where is the deficit? they claim that they reduce the deficit by $1.85 billion -- $is.8$1.85 trillion. well, let's look at that number. what about the sequester i've been talking about? they eliminated the sequester. spending goes up $1.223 trillion. was this scored in their number? no. they are telling us we've got a $1.85 trillion, we got to take off $1.2 trillion because they didn't score. take that off. oh, we've looked at that time more careful carefully. it took us a while to read this. but we've got a good staff and they dug it out. they found out there was no pay-for for the doctors. for the last number of years we have found that the payment schedule for doctors is totally inaccurate you based on a law passed in the 1990's that's cut their payment to a degree that if we cut them another 2 20-some-odd percent, they'd quit taking patients. so we put the money in every year because we have to put the money in. else they won't treat our patients. they can't afford to. and everybody, republicans and de
so they -- where is the deficit? they claim that they reduce the deficit by $1.85 billion -- $is.8$1.85 trillion. well, let's look at that number. what about the sequester i've been talking about? they eliminated the sequester. spending goes up $1.223 trillion. was this scored in their number? no. they are telling us we've got a $1.85 trillion, we got to take off $1.2 trillion because they didn't score. take that off. oh, we've looked at that time more careful carefully. it took us a while to...
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Mar 20, 2013
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modest deficits are perfectly compatible with fiscal responsibility. talk about singing a new tune. and the conservative think tank, the american enterprise institute asks why does the budget need to balance in ten years? debt reduction doesn't require balance, just that the economy is growing faster than the debt, while the plan does put the debt to gdp ratio on a downward trajectory, it probably doesn't need to be quite as steep. ezra klein, this is a big deal, and you're here on this show to prove it is a big deal. you would never come out this late if this wasn't a huge deal. >> absolutely not. >> this is huge. the debt is the reason we have to do all these terrible things to medicare, which we republicans really love. it is just the debt is forcing us to do it. there's no rationale. >> if you read paul ryan's budget, and i have read every iteration, the first ten pages of the budgets is the same, this is a very apocalyptic, mad max scenario about the kind of debt crisis america faces. a crisis which the currency is completely devalued. we print and print money, inflation races
modest deficits are perfectly compatible with fiscal responsibility. talk about singing a new tune. and the conservative think tank, the american enterprise institute asks why does the budget need to balance in ten years? debt reduction doesn't require balance, just that the economy is growing faster than the debt, while the plan does put the debt to gdp ratio on a downward trajectory, it probably doesn't need to be quite as steep. ezra klein, this is a big deal, and you're here on this show to...
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Mar 19, 2013
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deficits are coming down. what is it republicans are going to give us in this grand bargain that we really want that would really be worth cutting the social safety net in the way they want to. i think they may have missed their window for those sorts of changes. >> and it may be their shorthand explanation why they're not doing more governing. thank you both for joining me tonight. >> thanks, lawrence. >>> coming up, sarah palin's jokes and david corn on hubris. this day calls you. to fight chronic osteoarthritis pain. to fight chronic low back pain. to take action. to take the next step. today, you will know you did something for your pain. cymbalta can help. cymbalta is a pain reliever fda-approved to manage chronic musculoskeletal pain. one non-narcotic pill a day, every day, can help reduce this pain. tell your doctor right away if your mood worsens, you have unusual changes in mood or behavior or thoughts of suicide. anti-depressants can increase these in children, teens, and young adults. cymbalta is no
deficits are coming down. what is it republicans are going to give us in this grand bargain that we really want that would really be worth cutting the social safety net in the way they want to. i think they may have missed their window for those sorts of changes. >> and it may be their shorthand explanation why they're not doing more governing. thank you both for joining me tonight. >> thanks, lawrence. >>> coming up, sarah palin's jokes and david corn on hubris. this day...
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reduction a year when last year our deficit was $1.2 trillion. so this budget plan increases taxes, it increases spending over our current rate and it does nothing to change the debt course of america. we need a plan that can balance the budget. we can do that and still increase spending every year. it will balance in ten years if we stay disciplined, but that's not the plan that's on the floor, and our colleagues need to study it and do not need to be voting for a plan that makes no change in our debt course, that does not create quote but simply borrows more. i thank -- i see my colleague, the democratic whip, i will call him, and would appreciate the opportunity to share these remarks and would yield the floor. mr. durbin: mr. president? the presiding officer: the senator from illinois. mr. durbin: i thank my friend from alabama for yielding. i have 13 unanimous consent requests for committees to meet during today's session of the senate. they have the approval of the majority and minority leaders. i ask unanimous consent these requests be ag
reduction a year when last year our deficit was $1.2 trillion. so this budget plan increases taxes, it increases spending over our current rate and it does nothing to change the debt course of america. we need a plan that can balance the budget. we can do that and still increase spending every year. it will balance in ten years if we stay disciplined, but that's not the plan that's on the floor, and our colleagues need to study it and do not need to be voting for a plan that makes no change in...
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the budget presented by the deficit majority makes no effort to reduce deficits, reduce spending, balance the budget or grow the economy. instead, this budget seeks to grow government by taxing more and spending more. it's time that we all recognize that government exists to serve the needs of the people rather than people serving the needs of their government. there are some who believe that government is the only creator of economic prosperity, and if others have achieved success, they must be by default the cause of others' hardships. this type of glass warfare, demagoguery as it is, is harmful to america and our future. it seeks and does divide america. the budget presented by the deficit majority is partisan business as usual. it will tax success by adding another trillion dollars. it increases government spending, it ignores the subject of our health care entitlements, and this whole approach is simply not good for advancing america's economy. it places no priority on ever bringing our budget into balance the deficit majority speaks at length about growing the economy and creating a
the budget presented by the deficit majority makes no effort to reduce deficits, reduce spending, balance the budget or grow the economy. instead, this budget seeks to grow government by taxing more and spending more. it's time that we all recognize that government exists to serve the needs of the people rather than people serving the needs of their government. there are some who believe that government is the only creator of economic prosperity, and if others have achieved success, they must...